Knowledge is good, wisdom is even better.
Wisdom turns agility into action. The insights that fuel better questions and conversations between private business owners and EY professionals are organized here for easy reference. What are you reading today that will grow your business tomorrow?
As a firm, we are committed to keeping you informed on the most pressing topics that affect the world your business operates in. See below for our hot topics, recent tax publications and Accounting Standards for Private Enterprises (ASPE) publications.
Is your business prepared for working in the cloud?
Cloud adoption is now widespread, enhancing business agility and increasing the pace of change for all industries worldwide.
How do you actively prepare for the succession of your business?
Here are some important considerations to keep in mind when you’re preparing your succession plan.
Tax reform proposals
The top 7 things private businesses need to know about the federal government's sweeping tax reform proposals.
Southwestern and Eastern Ontario Development Funds
If your business is located in Ontario Southwestern or Eastern Ontario and you're planning to expand your facility or equipment and create a minimum of 10 new jobs, you may be eligible for government grants.
Go global: positioning your family business expansion across borders
When looking to grow your family business, it's just as important to know who you are and where you came from as it is to know where you're going.
Is inclusive leadership a powerful catalyst for growth?
Canadian businesses are stepping up to centre stage and experiencing the power of inclusiveness.
EY's 16th Global Capital Confidence Barometer
Our 16th Global Capital Confidence Barometer finds that Canadian respondents are driving forward with invigorated confidence in the deal market and the Canadian economy against a backdrop of unparalleled global uncertainty.
Steps to consider before issuing an IPO
Going public involves intense scrutiny and analysis from investors and the competitive marketplace. As a part of an initial public offering (IPO), you need to create a compelling story that acts as a tool that facilitates the sale of the company's stock to prospective investors.
A holistic approach to understanding the story behind the numbers.
Selling your private business?
The decision to sell a business should not be taken lightly. If you think that a sale may be in your future, it's never too early to start planning ahead.
Is your private company prepared to combat a cyberattack?
EY’s 19th Global Information Security Survey investigates the most important cybersecurity issues facing businesses today.
Private Company Spotlight: Construction
Infrastructure and construction have undergone tremendous growth over the past decade and, while activity is regionally based, there are many large-scale opportunities to be found from coast to coast.
Attracting and retaining top talent
In the war for talent, it's not just about finding the best. You also want to keep that talent on your team for the long haul.
Disrupting youth entrepreneurship - Infographic
Digital, data and analytics are disrupting the way young Canadian entrepreneurs are becoming market leaders.
Handing over the reins with confidence
Thoughtful estate and succession planning can help you map out your company's future success and reduce the risks to your family and employees.
Private Company Spotlight: Technology
Technological innovation in Canada is creating new opportunities for startups and is helping existing private companies take their businesses to the next level.
Private Company Spotlight: Retail and Consumer Products
With the size of the global middle class expected to triple between now and 2030, businesses in the retail and consumer products sector have a great opportunity to create sustainable, long-term growth.
Creating a family legacy through philanthropy - Infographic
Family business philanthropy is increasingly regarded as a social investment, with a clear value base and a desire to perpetuate those values through to the next generation.
Can embracing conflict spur positive change
In this report, we explore the effects of dysfunctional conflict and explain how to make conflict benefit business and family, rather than disrupt either.
Private Company Spotlight - Manufacturing
Manufacturing is a cornerstone of the Canadian economy. Read our latest sector spotlight to see how it has huge potential for Canada's economic future.
Developing a foreign exchange risk management strategy
Learn more about important risk management steps you should consider if foreign exchange is a factor for your private business
Checking on the financial health of your business: Updating your business plan for year-end
Here are some tactical items that you should consider for your annual business plan review.
Reducing fraud, bribery and corruption in your private business
6 things that you can do now to help you understand, reduce and prevent fraud, bribery and corruption from impacting your private business.
Innovating for the upturn
The keys to success and longevity lie in the ability to make smart, strategic investments in innovation.
4 tips To prepare the next generation for the family business
Private company insights - Federal budget 2016-17
Read our executive summary highlights of Budget 2016 that are relevant to private companies and their shareholders.
7 key actions for expanding your private business
Internationalization can be a challenging process for a private business. Read how you can best prepare for entering a new market.
Finding the capital you need to help your private business grow
Questions your accountant should be asking you
Whether you’re at the beginning of your journey, find yourself at a crossroad, or simply want to maintain the right direction to success, we’ll support you with our experience and advice.
How EY meets your private company needs
Helping business owners with all of their private company needs.
10 tips to avoid litigation
Practical tips to help you avoid litigation so you can get past the dispute and back to business.
Smart strategies for dealing with your banker
EY’s Smart strategies for dealing with your banker is designed to offer techniques that will help you facilitate a strong working relationship between you and your banker.
Calling all women entrepreneurs: you might be impacted by new proposed tax reform measures
Ottawa’s rush to reform the tax system could end up deforming it
Canadian family businesses at risk with tax reform proposals
How new tax proposals could inflict pain: the medical perspective
Digital Innovation in Canada
Not just a home
Private companies face myriad questions in decision to grow by IPO
To Canada 150 and beyond: the role of private companies
How leading with inclusivity can be a powerful catalyst for growth
For the first time, people who sold homes last year will have to report it on taxes
Talking Tax with Gabriel Baron
Six things small businesses need to know from the 2017 federal budget
2017 budget offers five key developments for Canadian entrepreneurs
Niche nuggets in Budget 2017
Trudeau government hiking taxes on smokes, booze, pursues tax cheats
Your Money Month: Capital gains tax rate
Effective tax planning for family businesses
Demystifying the Canadian deal environment
When to incorporate to your tax advantage
- Tax Alert
Private company insights: federal tax reform
On 18 July 2017, federal Finance Minister Bill Morneau introduced draft legislation and a consultation paper (the proposal documents) proposing to fundamentally overhaul the system of taxation for private companies and their shareholders and family members.
- Tax Alert
Finance addresses tax planning with private corporations
On 18 July 2017, federal Finance Minister Bill Morneau released for consultation a paper and draft legislative proposals addressing tax planning arrangements using private corporations.
The outlook for global tax policy in 2017
Global tax reforms and sustained weak economic growth continue to disrupt the competitive landscape in tax across the globe, driving countries to introduce new business incentives in order to compete.
Read our executive summary highlights of Budget 2017 that are relevant to private companies and their shareholders. And to hear how the 2017 federal budget will impact Canadian private businesses, view our budget webcast.
Managing Your Personal Taxes 2016-17
Whether we like it or not, taxes affect us all. And they can be pretty complicated - personal taxes perhaps the most of all. In the following pages you'll find tips and strategies to help you understand your personal tax situation.
Better questions to be asking for year-end tax planning
As the year draws to an end, it's the perfect time to be proactive about tax planning.
Worldwide Estate and Inheritance Tax Guide
The 2016 edition summarizes the gift, estate and inheritance tax systems and describes wealth transfer planning considerations in 38 jurisdictions and territories.
Worldwide Personal Tax Guide
Governments worldwide continue to reform their tax codes at a historically rapid rate. Taxpayers need a current guide, in such a shifting tax landscape, especially if they are contemplating new markets.
Tax optimization in today’s economy
Tax optimization can provide an additional source of capital in uncertain economic times.
Indirect Tax Services
Are you constantly on the lookout to find efficient ways to reduce costs and increase profits?
Optimizing tax savings for your private company
If you're looking to take advantage of tax savings while maintaining financial discipline and rigour, understanding what tax options may be available to you is more than simply a good idea - it's essential.
Capital Asset Review
Classifying capital assets for income tax purposes can have a significant impact on your corporate tax payable and resulting cash flow.
Indirect Tax Recovery
For over 30 years, we’ve helped private companies identify and uncover indirect tax recovery opportunities and provided them with indirect tax management support.
Accounting Standards and Technical Support
Private companies have a unique set of reporting standards that differ from that of a public company.
To ensure sound reporting practices are followed, EY has a team within our National Accounting and Assurance group dedicated to servicing and understanding the unique needs of our private mid-market clients.
Our team is focused on supporting and advising on technical accounting and auditing matters for private companies. We can assist you in many ways including:
- Reviewing your financial statements
- Training your accounting personnel
- Assisting you in understanding the implications of new or proposed accounting standards
- Understanding and advising on the implications of complex business transactions
We can help you successfully navigate the private company reporting environment.
- ASPE exposure draft section 3856
ASPE updates: exposure draft of section 3856 and post-implementation review.
- ASPE changes to consolidations and joint arrangements
New accounting standards take effect 1 January 2016.
- Good Group Private Enterprise Inc.- Illustrative financial statements (2016)
Based on Accounting Standards for Private Enterprises in issue as at 1 January 2016.
Understanding ASPE publications
This series of Understanding ASPE publications have been developed to assist preparers of financial statements with Accounting Standards for Private Enterprises (“ASPE”). Our Understanding ASPE publications provide current and relevant topics of interest to private mid-market enterprises in an easy-to-understand format.
Through answering commonly asked questions, these publications summarize certain key aspects to select ASPE topics without providing an expressed viewpoint.
To learn more about ASPE or for application guidance please contact our Private Mid-Market Practice at email@example.com.Sections: 1000, 1100 & 1400Financial Statement Concepts, Generally Accepted Accounting Principles and General Standards of Financial Statement PresentationFive questions for private business ownersSection 1506Accounting ChangesSeven questions for private business ownersSection 1510Current Assets and Current LiabilitiesFive questions for private business ownersSection 1520Income StatementThree questions for private business ownersSection 1521Balance SheetThree questions for private business ownersSection 1540Cash Flow StatementEight questions for private business ownersSection 1582Business CombinationsFive questions for private business ownersSection 1590SubsidiariesThree questions for private business ownersSection 1625Comprehensive Revaluation of Assets and LiabilitiesFour questions for private business ownersSection 1651Foreign Currency TranslationFive questions for private business ownersSection 3056Interests in Joint ArrangementsSeven questions for private business ownersSection 3065LeasesFour questions for private business ownersSections 3240, 3251 & 3610Share Capital, Equity and Capital TransactionsSix questions for private business ownersSections 3280 & 3290Contractual Obligations and ContingenciesSeven questions for private business ownersSection 3400RevenueSix questions for private business ownersSection 3465Income TaxesSix questions for private business ownersSections 3800 & 3805Government Assistance and Investment Tax CreditsSeven questions for private business ownersSection 3840Related Party TransactionsFour questions for private business ownersSection 3856Financial InstrumentsSeven questions for private business ownersSection 3870Stock based Compensation and Other Stock-based PaymentsFive questions for private business owners